Key takeout
Hut 8 and Trump’s sons have launched a new Bitcoin mining entity named American Bitcoin Corp. American Bitcoin. AmericanBitcoin is a publicly available company with the aim of achieving EH/s of over 50.
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Eric Trump and Donald Trump Jr. have officially entered the Bitcoin mining industry and have partnered with Hut 8 to launch American Bitcoin, a new mining company that aims to become the world’s largest and most efficient Bitcoin mining operation.
The announcement, released on March 31, follows a strategic merger between American data centers and American Bitcoin, and is now operating as a majority subsidiary of HUT 8. Through this transaction, US data centers acquire 20% stake in US Bitcoin, and HUT 8 holds 80% ownership.
American Data Centers (ADC) is an AI infrastructure-focused company founded by Dominari Holdings in collaboration with two Trump sons. They are also part of the Dominali Advisory Committee.
American Bitcoin focuses on scaling mining operations, targeting more than 50 EH/s and less than 15 j/Th fleet efficiency. Additionally, adding Bitcoin as an asset to a company’s balance sheet is also an important part of the agenda.
“By sharing Hat8’s proven excellence in proven data centers and sharing his passion for Bitcoin and decentralized finance, we are poised to strengthen our foundations and drive significant future growth.”
According to Trump Jr., investments in mining can not only own Bitcoin, but also get more direct access to network expansion and success.
“From the start, we supported our belief in Bitcoin, both personally and through our business,” he said. “But simply buying Bitcoin is only half the story. Mining it into favorable economics opens up even greater opportunities. I’m excited to run this paper and lead investors to that equation through a platform designed to provide genuine and concrete participation in the growth of Bitcoin.”
Hut 8 CEO Asher Genoot discussed the establishment of American Bitcoin as another entity, saying it is a strategic move to optimize funding and allow Hut 8 and American Bitcoin to focus on their core competencies.
“By carving the mining business into standalone entities that raise their own capital, each segment of the business is tailored to their own capital costs. This transaction creates two dedicated but complementary businesses for each mission,” Genoot said.
“It will evolve Shed 8 towards a more predictable, fundable, low capital segment and establish American Bitcoin as a pure play mining platform built for Exahash’s growth, Bitcoin production and operational leverage,” he added.
The new company’s leadership team will feature Mike Haw as executive chairman, Matt Prusac as chief executive and Eric Trump as chief strategy officer. The board consists of Mike Ho, Usher Genyott, Justin Mateen and Michael Brukim.
HUT 8 will serve as the exclusive infrastructure and operational partner for Bitcoin in the United States through long-term commercial agreements that provide ASIC colocation services, managed services and day-to-day management through shared services agreements.
According to data from Bitcoin Treasuries, the well-known Bitcoin miners currently hold 10,273 Bitcoins worth around $841 million. This ranks the company as the sixth largest public company, accounting for almost 0.05% of total Bitcoin supply Bitcoin owner.
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